The widow of San Diego Padres owner Peter Seidler sued two of his brothers on Monday as she aims to gain control of the club.
Sheel Kamal Seidler filed a complaint in Texas probate court claiming that she and her three children have been “effectively ostracized” from the Padres since Peter Seidler died in November 2023.
She further alleged that brothers Bob and Matt Seidler, trustees of the Seidler trust, conspired to sell themselves trust assets at “far-below-market prices” in a break from their fiduciary duties.
According to Sheel Seidler, Peter Seidler said before his death that his wish was for her to take control of the Padres, followed by their children. Sheel Seidler said she and her children hold the largest stake in ownership.
“They (the brothers) are trying to erase Peter’s vision and legacy,” the complaint alleges, “as well as falsely cast themselves as Peter’s true heirs.”
Among her other accusations, she said Robert and Matthew Seidler have worked to exclude her from charity events held in her late husband’s honor and have “made clear” that she and her children aren’t welcome in the owner’s box at Petco Park.
The brothers “not only disregarded the clear terms and purpose of the will and trust instrument that Peter created, but they also have intentionally schemed to take for themselves the estate and Seidler trusts’ value rights and assets,” the complaint states. “They have done so by misleading Sheel, engaging in conflicted transactions and egregious acts of self-dealing, and when Sheel began expressing concern and questioning their actions, they responded by demeaning and attempting to intimidate her — including by using trust assets to pay lawyers to threaten her into submission and silence.”
Once a low-spending small-market team in the shadow of the Los Angeles Dodgers, the Padres threw financial weight around in the final years of Peter Seidler’s life. The club’s Forbes valuation grew to $1.78 billion last year, ranking 17th in Major League Baseball.
However, the team cut back its payroll in 2024 after its media contract fell through via Diamond Sports Group’s bankruptcy. But the Padres still fielded a competitive team, won 93 games and made the postseason.
–Field Level Media
Comments